EnLink Midstream (NYSE:ENLC) Upgraded to Strong-Buy at Tudor Pickering

Tudor Pickering upgraded shares of EnLink Midstream (NYSE:ENLC) to a strong-buy rating in a research report released on Friday morning, Zacks.com reports.

Several other equities analysts also recently issued reports on the stock. Wells Fargo & Company raised shares of EnLink Midstream from an equal weight rating to an overweight rating and boosted their price target for the company from $13.00 to $17.00 in a report on Monday, July 8th. Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream from a hold rating to a buy rating and set a $15.00 target price for the company in a research report on Friday. JPMorgan Chase & Co. raised their price target on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a neutral rating in a research note on Wednesday, July 10th. Finally, StockNews.com upgraded EnLink Midstream from a hold rating to a buy rating in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, EnLink Midstream has a consensus rating of Moderate Buy and a consensus price target of $15.29.

EnLink Midstream Stock Performance

Shares of NYSE ENLC opened at $13.69 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72. The firm’s 50-day moving average price is $13.40 and its two-hundred day moving average price is $13.13. EnLink Midstream has a 52-week low of $11.44 and a 52-week high of $14.38. The stock has a market capitalization of $6.18 billion, a P/E ratio of 39.11 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.06). The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.90 billion. EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the business posted $0.12 EPS. As a group, sell-side analysts forecast that EnLink Midstream will post 0.61 earnings per share for the current year.

EnLink Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd were paid a $0.1325 dividend. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date was Friday, August 2nd. EnLink Midstream’s dividend payout ratio is currently 151.43%.

Hedge Funds Weigh In On EnLink Midstream

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in EnLink Midstream in the 4th quarter valued at about $27,000. ORG Partners LLC bought a new stake in EnLink Midstream during the second quarter worth approximately $28,000. JNBA Financial Advisors bought a new stake in EnLink Midstream during the fourth quarter worth approximately $30,000. Sunbelt Securities Inc. grew its position in EnLink Midstream by 24.2% in the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock worth $94,000 after buying an additional 1,343 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of EnLink Midstream during the 1st quarter worth $105,000. 45.87% of the stock is owned by institutional investors.

About EnLink Midstream

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.